What's the first thing you do after you spend $13.7 billion on a grocery store known for its high prices? Well, if you are Amazon, you slash those prices on the first day you gain ownership of the stores.
ADVERTISEMENT
UBS: Amazon is throwing a pile of cash at Whole Foods to turn a profit — which could come sooner than you think (AMZN)
Amazon will have to spend a big chunk of cash to turn around customers' perception of Whole Foods, but it can't do that forever.
ADVERTISEMENT
Recommended articles
With a huge $21.451 billion bundle of cash (and cash equivalents) on its balance sheets, Amazon can afford to lose a bit while it cuts prices at Whole Foods in order to make its newest acquisition more popular. But, Amazon isn't looking to take a loss forever.
UBS discussed Amazon's plans for the high-end grocer in a conversation with an unnamed former VP of Amazon Fresh: "C
FOLLOW BUSINESS INSIDER AFRICA
ADVERTISEMENT
Recommended articles
10 countries in Africa with the worst press freedom in 2024
FCMB Group sustains growth momentum, profit rises 192.6% in Q1 2024
DBNC 2024 impacts, sets the pace for entrepreneurs
Navigating success: Insights from a leading IT expert
US and French governments are lobbying Nigeria to host their military bases - report
Russian aid arrives in Niger amid growing bilateral ties
Kentucky Derby betting sites 2024: Where to bet on the races online
10 least powerful African passports in 2024
